Economic Importance for Humans: Negative
Although Atlantic cod have been an economic asset to humans, they can also create problems for economies based solely on cod fisheries. Those who depend upon the success of cod fisheries as a source of income can be hurt financially if fisheries fail. The collapse of the cod fisheries in the 1990’s took a toll on the economies of New England and Canada. In this case, the stocks were not managed properly and resulted in a 96% decrease in population size since 1850. Fishermen who rely on the cod population to make a living are left with financial burdens when the stock collapses.
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